The UK has the fifth highest minimum wage but also has one of the highest costs of living on the continent, although the UK’s minimum wage increases every year, it still fails to keep up with the rising cost of living – according to i.
Approximately 14.4 million people in the U.K. were living in poverty between 2021 and 2022, according to official government statistics.
The following statistic also remains noteworthy: the monthly cost excluding rent for a Londoner is £1,104, which means: a person on the minimum wage in London will spend around two-thirds of it on expenses such as food, transport and utilities, according to comparison website Numbeo.
By contrast, there is Luxembourg with its the lowest cost of living (£830 a month) and the highest wage (£2,178 a month).
In Germany, the minimum monthly wage is £1,734 and the monthly cost of living in Berlin is £883. Amsterdam has the same cost of living as Luxembourg, but the minimum wage was much lower at £1,732. In Belgium, the cost of living is just over £855 a month and the minimum wage has fallen to £1,698. After the UK comes Ireland with £1,658 and £950 as the monthly cost of living in Dublin.
As for the lowest wage, it is France with £1,517 and the monthly cost of living in Paris is £922.
Speaking of the highest cost of living, Switzerland comes immediately to mind: in Zurich, the cost of living excluding rent is £1,520 a month.
Data on minimum wages in other strong European economies such as Denmark, Italy, Austria and Finland is not available.
